Bloomberg reported that on the Air Force One private jet on April 3, US President Donald Trump suddenly signaled his readiness to negotiate and could cut counterpart tariffs if other countries made a "really great proposal".
Tax gives us great power to negotiate, Trump asserted, revealing that all countries have called for us.
Although the stock market on 3.4 witnessed one of the worst sessions since Covid-19 pandemic, with about 2,500 billion USD was "blown away" from the S&P 500; The Russell 2000 ruled 20%, the USD decreased by 1.5%, Mr. Trump still defended his tariff policy, saying that the US economy was only in the adjustment phase and would soon be stable. He was even optimistic with the decrease in interest rates, the price of energy and food cooled.
When asked if he was thinking about a concession, the President replied depending on the situation.
If someone makes something really extraordinary as long as it is beneficial to us I will consider it, Trump said.
For Beijing, one of the conditions for tax reduction that Mr. Trump emphasized is that China needs to approve the deal to sell TikTok (under ByteDance) to US businesses.
TikTok is facing a deadline of April 5 to complete its sales in the US, otherwise it will be banned under Trump's decree. However, he hinted at the possibility of an extension if the negotiation process progressed positively.
We are very close to an agreement, he said, not ruling out the possibility that China will use TikTok as leverage to request a tariff reduction.
President Trump revealed that he has had many calls with foreign leaders and large businesses are looking for tax exemptions. The automakers include the car maker, although not named, and Israeli Prime Minister Benjamin Netanyahu, who could arrived in the US next week.
Although Israel has lifted tariffs on US goods in hopes of incentives, the White House still imposes a 17% tariff on goods from this country.
On the European side, President Trump affirmed that the UK is favorite with a minimum tax rate of 10%, while EU countries are subject to a rate of 20%.
The market is going to explode. Just give it a little time, Trump confidently said.
And with his familiar style, he concluded with a metaphor: I like reduced interest rates, reduced vegetable prices, as well as reduced egg prices. The price of gasoline is reduced, I am even happier.
